How to get no Loan Origination Fees With Keller Mortgage?
So how does a buyer save money on a loan? The Keller Mortgage is available to buyers of a property listed by a Keller Williams agent. Additionally, it is available to buyers working with a Keller Williams agent. How can Keller Mortgage do this? Keller Mortgage is owned by Gary Keller. However, like many companies, Keller Mortgage does not advertise and provides the savings from marketing the loan company to the buyers.
#1 What is the Zero Plus home loan offered by Keller Mortgage?
The Zero Plus home loan program is a discounted loan program offered by Keller Mortgage, a division of Keller Williams Realty. This new product was created for Keller Williams Real Estate agents to offer exclusively to their clients in a Keller Williams transaction to save money. Keller Williams Realty International purchased a well-respected mortgage company, which has been in business for over 10 years and developed the Zero Plus mortgage. This great mortgage is available to buyers of a Keller Williams listing or to agents using a Keller Williams agent.
#2 What is a Zero Plus Mortgage?
The Zero Plus mortgage loan features no Loan Origination fee, No Underwriting Fees and No Processing fees. As a result, at closing, buyers are refunded $1000 for 3rd party expenses, such as home inspections or appraisals. How much savings could a buyer realize? Let’s take a home purchase of $300,000, with 10% down payment. The minimum buyer credit score for this program is a score of 600.
$2700 Loan Origination Fee savings
$1500 Processing and Underwriting savings
$1000 Credit at closing to the buyer
$5200 in Savings!
#3 How Does Keller Mortgage Do This?
Keller Williams Realty co-founder, Gary Keller continues to look for ways to add value for Keller Williams Realty agents. In today’s competitive market, what sets one agent apart from another? It is the value the agent provides. Keller Mortgage is able to offer the Zero Plus program by keeping their costs down. Buyers communicate via phone with the highly trained, experienced loan officer. Documents are emailed to Keller Mortgage loan officers. Many buyers today are familiar with online lenders and Keller combines the convenience of online lending and amazing Keller Mortgage customer service.
#4 How much of a Loan can I get with Keller Mortgage?
Borrowers can get a loan up to $3,000,000. Loan amounts must be at least $150,000 to qualify for the $1000 credit at closing.
#5 What if I need closing Cost assistance?
Homeowners buying through a Keller Williams agent can save thousands on their new mortgage. In many competitive markets, buyers may need money for closing costs. As a result, by using the Keller Morgage Zero Plus Mortgage, buyers may not need to ask for seller concessions when buying a house to help with their closing costs. Let’s look at two buyers interested in the same house. One buyer is asking the seller for $5000 in closing costs and the other is not. Both buyers offer the same purchase price for the house. Which offer do you think the seller will accept? Of course, the offer not asking for closing costs, which will put $5000 in the seller’s pocket.
#6 What if I don’t have to Ask the Seller For Closing Costs?
What if a buyer doesn’t need closing cost assistance? As a result of using the Zero Plus mortgage, the buyer spends less on closing costs, leaving more money in the buyer’s pocket for house updates or more money to put towards their down payment. Using Keller Mortgage’s Zero Plus program can put the buyer at a distinct advantage in today’s competitive buyer’s market. Who doesn’t like to save money? Savvy Keller Williams Realty Agents know there are many ways to negotiate in the best interest of their buyer and how to help buyers save money on this most expensive purchase.
# 7 How Can I get up to $1000 at Closing?
At closing (on loans in excess of $150,000), buyers get a $1000 credit towards 3rd party costs, such as a home inspection or home appraisals. This lending package from Keller Mortgage can literally save buyers thousands of dollars.
Are all real estate agents the same? That is a resounding No! Agents vary in their communication skills, their ability to negotiate on behalf of a buyer and in the services they may recommend to a buyer. The best real estate agents look for ways to help buyers save money while providing resources needed during and after the home buying process! And this means, the average homeowner today stays in their home for 9 – 10 years. This means when a homeowner is ready to buy and sell, they are needing services they haven’t needed for years. Why not work with an agent who is savvy about saving their buyer’s money on a home purchase.
#8 What are mortgage loan closing costs?
These are fees related to obtaining a home mortgage loan. When closing on a house, a buyer typically has a down payment requirement (VA loans do not require the veteran to have a down payment) and closing costs. As a result, a lender typically charges fees necessary to originate the loan for the buyer. If the Zero Plus loan eliminated the loan Origination fee, Underwriting fee, and Processing fee, what is left to pay? As a buyer, you are required to have one year’s of homeowner insurance up front and 2 – 4 months of money to cover your homeowner insurance in your escrow or impound account.
You will also need 2 – 4 months of taxes in the same escrow or impound account. The lender will collect money each month as part of your monthly payment. A payment will consist of principle (repaying your loan), interest (the interest the bank is charging you for the loan), Taxes (typically your annual tax bill divided into twelfths, and paid by your lender every year when due. Your lender will collect a little each month to ensure you have the funds, then pay your county when the bill becomes due. The lender will also collect one-twelfth of your annual insurance payment, and pay that on your behalf when it becomes due.
Call me today to see how you can take advantage of the Keller Mortgage and save thousands of dollars when you purchcase a home!
Contact the Shirley Coomer Group at Keller Williams Realty Sonoran Living
Call or Text: 602-770-0643 for more Real Estate information.